LNG tanker technology player Excelerate Energy has joined the floating liquefied natural gas rush and expects to complete at least two more floating regasification import projects within the next year, chief executive Rob Bryngelson told Petroleum Economist

Billion-dollar investments by US and European companies have made Angola a high-volume oil producer, flowing crude through innovative structures installed in the country's deep waters. But now the authorities are favouring Chinese firms, Martin Quinlan writes

UN seeks action as piracy costs spiral for shipping companies

With pirate attacks, and their associated costs for shipping companies, escalating, the UN wants to bring a more joined-up approach to what has been, so far, an ineffective international response

Piracy costs the global economy around $7bn-12bn a year and is pushing up the costs of using some of the world's busiest shipping routes, says One Earth Future (OEF), a US-based think tank. Most of those costs are incurred as a result of attacks by Somalia-based pirates, whose activities are spreading across the Indian Ocean – although piracy is a worldwide problem.
Around $238m was paid to Somali pirates in 2010 alone, with the largest known ship ransom ever paid, $9.5m, made in November to secure the release of a South Korean oil tanker, says the OEF. There has been no let up in the intensity of attacks, with a number of tankers running into confrontations with pirates. By mid-January, So

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Mozambique and Tanzania both have gas reserves likely to support extensive LNG exports, but only one of them is truly committed to exploiting them—at least for now

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